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Dow Up Nine-In-A-Row On Lowest Volume Day Of Year

Tyler Durden's picture




 

The Dow managed its ninth green close in a row - its best in 16 years - and obviously closed at all-time new highs. The Trannies were the real winner though as they are now up over 4% in March (considerably outperforming the rest of the major indices), and up 29% since mid-November (a 120% annualized return) with no more than a 2.5% retracement in that period. Four stocks dominated TRAN today JB Hunt, Alaska Air, CH Robinson, and Ryder accounting for half the index's gains. Volume was its lowest of the year (ex President's Day). Average trade size was low. On the week, financials and energy are the underperformers. Treasury yields spiked on retail sales, dropped on the auction and go out very modestly higher on the day but not confirming the equity exuberance again. FX markets also pointed to a less sanguine view of the world as the USD rallied and EURJPY (carry) provided little support. VIX held up for most of the day but collapsed into the close back under 12%. Commodities gave back earlier (weaker USD) gains to close at the lows of the day.

 

The Dow versus Volume - all that matters...

 

as The Transports run away with it again...

 

and the S&P 500 remains in its tight uptrend (also with dismal volume)... it appears the trend is your friend - of course, until the market gaps down 5% and CNBC runs a 'panic' show...

 

Protection was relatively bid all day until the last few minutes when VIX was smashed back under 12% more in line with stocks...

 

Bang Dat VIX Close...

 

FX Markets swung notably longer the USD today starting at around 4amET - Italian auction...

 

 

Charts: Bloomberg and Capital Context

 

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Wed, 03/13/2013 - 16:08 | 3327320 arm50
arm50's picture

and 2 big pomo days to end the month

Wed, 03/13/2013 - 16:34 | 3327426 CH1
CH1's picture

Pink unicorns forever!

Wed, 03/13/2013 - 16:52 | 3327503 negative rates
negative rates's picture

I once hit 12 points in a row on a craps table.

Wed, 03/13/2013 - 17:31 | 3327575 flacon
flacon's picture

Yesterday I bought DIA puts, I sold them this morning at the lows (I managed to sell it at the lowest minute of the day - miracle), made a tiny amount. This market is utterly stupid. 

 

"Get to work Mr. Bernanke!" ~ Shitty Schumer

Wed, 03/13/2013 - 17:37 | 3327671 Buckaroo Banzai
Buckaroo Banzai's picture

In Technical Analysis, this is called a MAJOR NEGATIVE DIVERGENCE.

Wed, 03/13/2013 - 18:59 | 3327846 flacon
flacon's picture

Yeah. And it's beein major fucking negative for three fucking months now. ....  Nobody with half a brain is buying... but it continues to ramp uppp Fucking shit man! This market is on steorids. 

Wed, 03/13/2013 - 19:34 | 3327929 Spirit Of Truth
Spirit Of Truth's picture

Pure mass mania insanity on Wall Street:

http://www.spiritoftruth.org/Thesis/Intro

Until the bubble pops and reality hits:

http://www.secondkoreanwar.com

Wed, 03/13/2013 - 17:32 | 3327656 rhinoblitzing
rhinoblitzing's picture

Why only the Pink unicorns? You sound like a racist... If you know what's good for you, you would get the word out to... Impeach Obama Now!

Wed, 03/13/2013 - 18:41 | 3327807 ejmoosa
ejmoosa's picture

What's the BFD?  We hit record budget debt every day for years now....

 

Top that, DOW!

Wed, 03/13/2013 - 16:09 | 3327327 McMolotov
McMolotov's picture

"The Farce will be with you, always." —Obi Ben Bernanke

Wed, 03/13/2013 - 16:13 | 3327335 Waterfallsparkles
Waterfallsparkles's picture

Spiked it hard in the last 5 minutes like yesterday.

Wed, 03/13/2013 - 16:12 | 3327337 fonzannoon
fonzannoon's picture

I give Tyler credit for analyzing this whale shit market.

Wed, 03/13/2013 - 16:13 | 3327344 natronic
natronic's picture

Dow up Debt up

Wed, 03/13/2013 - 16:13 | 3327345 Clowns on Acid
Clowns on Acid's picture

Bernanke and his pack of smirking jackals are turning all markets into Trannys. They used to be hetero, now they take it wherever they can get it.

Seems healthy right....just let Trannys determine our business decisions and moral direction for us.

Wed, 03/13/2013 - 16:14 | 3327346 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

groundhog day bithchez!

Wed, 03/13/2013 - 16:14 | 3327348 rubearish10
rubearish10's picture

Copy and paste day after day!

Wed, 03/13/2013 - 16:14 | 3327351 HD
HD's picture

Only up five Dow points?  I "Poped" for more...

Wed, 03/13/2013 - 16:16 | 3327354 busted by the b...
busted by the bailout's picture

So, pray tell, what is the deal with trannies?  What is this outperformance telling us?  Are carloadings and freighthauling and packaege delivery up significnantly recently, or not?  Anyone know for sure?

Wed, 03/13/2013 - 16:20 | 3327373 pragmatic hobo
pragmatic hobo's picture

just check the short interest on tranny stocks ...

Wed, 03/13/2013 - 16:37 | 3327438 busted by the b...
busted by the bailout's picture

Thank you. 

I assume that means a short squeeze is a factor.  But why all the shorts?  Usually shorts are well informed.  What do they see that the rest of the market doesn't, I wonder?

Wed, 03/13/2013 - 17:02 | 3327540 Tijuana Donkey Show
Tijuana Donkey Show's picture

Bigger players squeeze the weak hand. Refer to Ackman vs. the Icannator. Ackman is right about Fleece-o-life, but if you squeeze hard enough, you can still win. Look at what happened to VW in the squeeze, and realize they do the reverse with gold and silver.

Wed, 03/13/2013 - 16:26 | 3327397 tornado_watch
tornado_watch's picture

According CASS, YoY shipements on the freight side up 0.5% / expenditures lower by 1.0%. That follows a Jan that was -2.5% / -1.6%... so shippers clearly paying less and shipping less, though Feb was better than Jan. Port data only out for Jan, but a mixed bag with exports weaker than imports, but some ports doing well and others not so much. Today's retail #s, given the building materials / auto / and online data points would point to some higher car loadings, but they are seeing drags in intermodal / coal / and with the Mississippi back up, they will be losing some of that traffic back to the barge space.

 

Wed, 03/13/2013 - 16:34 | 3327431 busted by the b...
busted by the bailout's picture

Thank you, sir, excellent report!

Wed, 03/13/2013 - 16:27 | 3327398 tornado_watch
tornado_watch's picture

According to CASS, YoY shipements on the freight side up 0.5% / expenditures lower by 1.0%. That follows a Jan that was -2.5% / -1.6%... so shippers clearly paying less and shipping less, though Feb was better than Jan. Port data only out for Jan, but a mixed bag with exports weaker than imports, but some ports doing well and others not so much. Today's retail #s, given the building materials / auto / and online data points would point to some higher car loadings, but they are seeing drags in intermodal / coal / and with the Mississippi back up, they will be losing some of that traffic back to the barge space.

 

Wed, 03/13/2013 - 16:38 | 3327440 helping_friendl...
helping_friendly_book's picture

My wife has a package from, either, FedEX or UPS I carry in each day as I return home. I suppose everyone is shopping online? Giving carriers a boost? Instaed of one huge delivery to a department store there is a thousand deliveries to different houses. 

Short retail store fronts.

Internet shopping is where it is my friends.

Shop until your fingers drop!

 

Wed, 03/13/2013 - 16:16 | 3327355 Dr. Richard Head
Dr. Richard Head's picture

I hope when I am as old and shitty as the DOW is that I can keep it up as long as it does.

Wed, 03/13/2013 - 16:16 | 3327360 GolfHatesMe
GolfHatesMe's picture

A Festivus Miracle

Wed, 03/13/2013 - 16:29 | 3327407 Lendo
Lendo's picture

Time to break out the aluminum pole and let's air some grievances.

Wed, 03/13/2013 - 16:23 | 3327376 astoriajoe
astoriajoe's picture

Hey, a win's a win. Amiright or what!! Lets get some drinks boys.

Wed, 03/13/2013 - 16:21 | 3327377 PUD
PUD's picture

Lumber futures climb to 8-year high  GAS AT YEARLY HIGH...GOOD THING THERE'S NO INFLATION

Wed, 03/13/2013 - 16:30 | 3327415 Lendo
Lendo's picture

And that's why the postal service is bust, no inflation.  lol

Anyone saying there is no inflation is just a shill for the establishment and must not be trusted nor listened to.

Wed, 03/13/2013 - 16:23 | 3327380 Mr. Magoo
Mr. Magoo's picture

Looks like a replay of the Zimbabwe market in 2007

Wed, 03/13/2013 - 16:23 | 3327382 SheepDog-One
SheepDog-One's picture

Highest levels EVA....lowest participation EVA....how long can they really keep this clown show goin'?

Wed, 03/13/2013 - 16:37 | 3327443 Tsar Pointless
Tsar Pointless's picture

They can keep this clown show goin' as long as the POMO be flowin'!

Wed, 03/13/2013 - 16:59 | 3327528 SheepDog-One
SheepDog-One's picture

That seems to be the induced perception they want, but I'm definitely not buyin it!

Wed, 03/13/2013 - 16:30 | 3327413 Banksters
Banksters's picture


(Reuters) - The Obama administration is drawing up plans to give all U.S. spy agencies full access to a massive database that contains financial data on American citizens and others who bank in the country, according to a Treasury Department document seen by Reuters.

 

The proposed plan represents a major step by U.S. intelligence agencies to spot and track down terrorist networks and crime syndicates by bringing together financial databanks, criminal records and military intelligence. The plan, which legal experts say is permissible under U.S. law, is nonetheless likely to trigger intense criticism from privacy advocates.

 

 

I will repost this SHIT.   Simply because I intend to inflame as many people as possible- with the intent that we can get to critical mass. 

Wed, 03/13/2013 - 16:39 | 3327446 Tsar Pointless
Tsar Pointless's picture

Good luck. You DO realize that "American Idol" is on, don't you?

Wed, 03/13/2013 - 16:58 | 3327523 Savyindallas
Savyindallas's picture

and Dancing With the Retards is next  -Mark Cuban and Donald Trump are paring up with a couple of Karedashians in a mudwrestiling polka contest --After that a new version of celebrity "Cheaters" is coming on. The film crew has caught an unnamed Academy award winning celebrity with another Kardashian. They are filiming her former laker NBA celebrity star going over to his Beverly Hills manision to demand that he sleep with his wife in lieu of getting his ass kicked. What a night!

Wed, 03/13/2013 - 16:47 | 3327475 rhinoblitzing
rhinoblitzing's picture

This sounds treasonous, and IMO violates the letter and the spirit of the Constitution which leads me to say.... Impeach Obama Now...

Wed, 03/13/2013 - 16:49 | 3327488 The Heart
The Heart's picture

Coming in with a back up link to this story:

U.S. to let spy agencies scour Americans' finances

http://www.chicagotribune.com/business/breaking/chi-us-to-let-spy-agenci...

Little wonder no one has any money in America. Is is all off shore! Isn't that a threat to national security? They should be investigating how much of America's tax payer money is in off shore accounts, and not trying to track peoples gold purchases and private accounts for confiscation later.

Wed, 03/13/2013 - 17:00 | 3327532 McMolotov
McMolotov's picture

Q: Would withdrawing everything from the bank one week, making a large deposit the next week, then repeating the whole process again create multiple "false positives" for the system?

Wed, 03/13/2013 - 17:30 | 3327646 flacon
flacon's picture

Don't withdraw too much... anything more than $10 is a crime. 

Wed, 03/13/2013 - 17:08 | 3327564 scatterbrains
scatterbrains's picture

They probably just want to keep an eye on anyone who's fortune was wiped out taking the other side of Benny's money printing / rigged stock market casino bet.  Of the group that are so inclined to jump out a window, they're probably worried about  the small percentage that would opt instead to take some banksta niggas out with them.  If you haven't already killed yourself your a prime terrorist threat and their on to you bitchezz

Wed, 03/13/2013 - 16:31 | 3327416 Silverhog
Silverhog's picture

I guess priced in Monoply money, the market is still cheap. 

Wed, 03/13/2013 - 16:32 | 3327420 helping_friendl...
helping_friendly_book's picture

Kevin Henry, he's our man, if he can't get it up, nobody can......goooooooo Kevin!

Wed, 03/13/2013 - 16:50 | 3327490 Gimp
Gimp's picture

Broken market. Fed's will realize the damage done when volume is down another 50% and the "trust" of markets has completely evaporated.

 

Wed, 03/13/2013 - 17:00 | 3327533 SheepDog-One
SheepDog-One's picture

They've killed the goose that lays the golden eggs long ago....now all they've done is tied threads to the wings of it's corpse and flapping it around.

Wed, 03/13/2013 - 17:03 | 3327543 bonzo112358
bonzo112358's picture

CNBC Special Report: Markets in Termoil

Anchor - "How do you deal with a 0.5% pull back over the last month?"

Guest - "Buy the dip"

Anchor - "That's a brilliant strategy."

Guest - "Thank you.  I worked very hard to come up with that strategy."

Wed, 03/13/2013 - 17:09 | 3327566 Gimp
Gimp's picture

They need " Abby Normal" as the new host on CNBS!

Wed, 03/13/2013 - 17:08 | 3327565 oak
oak's picture

what is the probability of dow up 10-in-a-row?

Wed, 03/13/2013 - 17:24 | 3327623 The Heart
Wed, 03/13/2013 - 17:30 | 3327641 ShrNfr
ShrNfr's picture

I have a problem with using NYSE volume as a proxy, it seems that most stuff trades elsewhere. I prefer the delta-average-volume-at-time from Bloomberg since that captures all the various trading ratholes. Having said that, the trading today was indeed quite low.

 

As a comment, Europe was very slow today also.

Wed, 03/13/2013 - 17:53 | 3327696 EclecticParrot
EclecticParrot's picture

I can’t get no satisfaction

I can’t get no short-sale action

But I try, and I try, and I try

And I try -- I can’t get no

When I’m drivin’ in my car

And a man comes on the radio

He’s tellin’ me more and more

That there’s no chance of inflation

And that Ben’s just saved the nation

I can’t get no, no-no-no

Hey hey hey

Wed, 03/13/2013 - 18:19 | 3327766 Downtoolong
Downtoolong's picture

Hell, when it only takes $1000 to drive the market into the green on this low volume, why not?

Ben.

 

Wed, 03/13/2013 - 18:22 | 3327778 ptoemmes
ptoemmes's picture

Snooze..The Heat are putting 19 on the line tonight.  Lebron has been only just above mortal most of this run.  Wade has woken up.  The Birdman is...well...just plain weird.

Wed, 03/13/2013 - 19:49 | 3327991 orangegeek
orangegeek's picture

Dow Jones up 9 days straight.  Dow Jones hourly is fading.

 

http://bullandbearmash.com/chart/dow-jones-hourly-starting-turn/

 

Should be interesting tomorrow.

Wed, 03/13/2013 - 20:26 | 3328100 disabledvet
disabledvet's picture

What did Patton say? "God forgive me but i do love it so"? for all you volume complainers out there (Bartiromo) have no doubt once this market corrects your wish will come true. In the meantime: http://www.youtube.com/watch?v=PghRiGY999Y

Thu, 03/14/2013 - 01:37 | 3328801 q99x2
q99x2's picture

Wow like 1998 only without all those new technology companies to confuse us.

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